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to be weak due to worries about the fiscal cliff. with $600 billion in automatic tax hikes and government spending cuts set to start next yer, why aren't more firms postponing hiring decisions? >> what we're hearing from businesses is that it is really hard to actually pull back hiring right now, because they've already fired so many workers, gotten so lean that it's really difficult. >> reporter: but not all the surprises in the report were good. at 7.7%, the unemployment rate hit its lowest level since december 2008. but that was mostly due to people giving up their search for work. and there's another disappointing trend, weak wage growth. >> what we are not seeing is strong income generation. the slowing in wage gains-- the weak bargaining power of labor comes across in this report and >> reporter: so although the labor market is not getting worse, it's not getting a lot better, either. and there are plenty of risks that could cause businesses to cancel projects, and hiring plans. >> clearly one of the biggest risks is that we don't see a deal on the fiscal cliff, or that they drag it
on one. keep in mind they're the ones trying to do the deal here to avert this fiscal cliff. the tax hikes, the spending cutting scheduled for the first of the week now. join ming me from washington is senator olympia snowe. are you hearing -- what might you be hearing between the president and spirit? >> i think it is optimistic in the sense that at least they have met once again because i think that that is going to be crucial and central to any resolution, to the fiscal cliff crisis. and the more they meet and more that they have these lines of communications opened on a daily basis and their staffs are meeting, the more likely we'll see a conclusion to this issue. but it is regrettable that it is this late in the day, given the uncertainty and the apprehension that it continues to create among the american people, and, of course, both within the markets here and abroad. but i think it is hopeful that they have begun to meet and have some discussions because i think we can breathe a sigh of relief that the lines of communication are open. >> are you breathing that sigh of relief?
that if the nation goes over the fiscal cliff californians will beat out new yorkers for the potential highest tax rate at 52%. >>> forbes is out with its 2012 most powerful people lest. president obama held onto the top spot for the second straight year. the pope climbed two notches from last year and landed in fifth place. facebook ceo mark zuckerberg tumbled from the top ten all the way to number 25. former president bill clinton held on to last year's ranking at number 50. tonight on rock center watch brian williams sit down with apple ceo, tim cook, number 35 on the forbes list by the way. >>> finally, this is no joke. though it began as one on facebook, pizza hut in canada has sent more than 100 bottles of pizza scented perfume to facebook fans. the fragrance boasts top notes of freshly baked hand tossed dough. pepper reason ri? >> new york mayor cory booker lives on food stamps. >>> the nfl steps up with $1 million for jovan belcher's daughter. >>> high res images from space. it allows images of city lights, gas flares, aur rar ras, to be seen by the naked eye. >>> stories making news acros
down payment to avoid what people are calling the fiscal cliff, the automatic tax increases for every american or the beginning of the 10 years automated cuts that are supposed to happen but i don't think that anything is going to happen immediately. it has to happen over the long-term chsm is an acknowledgment of how difficult the sticking points are and challenges are. >> meredith, righting for "roll call," covering the fiss -- fiscal cliff discussions on capitol hill. thanks for joining us. >> thanks for having me. >> john boehner has sent president obama a counterour. a spokesman for house speaker boehner declined to share details of the offer but said the proposal would solve our looming debt crisis and create american jobs. we're still waiting for the white house to identify what spending cuts the white house will make and the longer the white house slow walk this is policy the close we get to fiscal cliff. we'll hear what senate leaders had to say today they spoke for 15 minutes at the capitol. >> it's time to see if the president is willing to make any cuts at all and whether
growth. we passed a bill a few months ago that prevents the fiscal cliff by saying no taxes will be increased, a bipartisan bill. all of those votes, were criticized for. they called us right wing nuts and extremists. we explain to the people what we want to do to get our economy moving again, but also to control spending in washington. and we were reelected with a mandate not only to continue to be in charge of the house, but to be the line of defense against the radical administration. i think we know what our task is. all but, for candidates -- all but four of the 30 candidates elected are talking about joining rsc. they were elected on these principles we believe in. i am comfortable with where we are positioned now, but i know it is going to be a tough ride ahead. we would not be doing this if it was not a mandate the people sent us to go do. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3,
with this. up ext, the fiscal cliff. it is hung up on tax forthe rich. not really. we will tell you why those taxes argoing upregardless othe deal. torrow, formeru.s. ambsador to the unite nations, moody's keep -- chief eonomists. st-selling author among our guest. please be th us. and as we go to break, here's a little christmas cheer. ♪ lou: prgress on avoiding the fiscal clifford appears to be, ll, stifled. it turns up the president is hitting the rich with tax increases regardless. the internal revenueservice releasg 159 new regulations and rules, heading investment income and wages for high income individuals. these regulationspassed has thing to do, of course, with the fiscal cliff and everything to d with obamacare, including a almost 4 percent surtax on capital gains and dividends, plus almost 1 percent tax on the new tax is estmated to. generate threonine 117 billion over ten years, just about 12 percent of the two and a half trilon the budget committee estimatethe law will cost of that time. here we go. 2013 looks le an interesting, interesting yer. this year the mighty miss
-called fiscal cliff. this is in fact the family and business tax cut certainty act of 2012. while i hope that the negotiations to avert the fiscal cliff are successful, in my view we should not wait for a grand bargain in order to finish work on this important tax extender legislation. tax extenders are different from the other fiscal cliff issues for three basic reasons, and let me describe those reasons. first tax extenders are much less contentious than the other end of year problems that we -- that need to be resolved. the tax extender bill on the senate calendar has strong bipartisan support. in august, the finance committee approved it by a large margin. we have support from six republicans, including the ranking member, senator hatch. all 13 democrats supported it. i believe that many more republicans will vote for this legislation if it's brought up for consideration here in the senate. the bill consists entirely of tax cuts. it should not be difficult to get senators to vote for tax cuts, right before christmas especially. most of these tax cuts have solid bipartisan support. ma
loves balance. great to have you with this. up next, the fiscal cliff. it is hung up on tax for the rich. not really. we will tell you why those taxes are going up regardless of the deal. tomorrow, former u.s. ambassador to the united nations, moody's keep -- chief economists. best-selling author among our guest. please be with us. and as we go to break, here's a little christmas cheer. before pd... i took my son fishing every year. e had greaspot, not easy find, but worth it. butith copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it t helps significantly improe my lungunction starting within five nutes. sybicort doesn replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and thameans...fish on! symbicort is for copd including chronicnchitis and emphysema. it should n be taken rthan twice day. sybirt may increase your risk of lung fections, osteoporosis,s, d some eye problems. ll ur doct if you have a heart condition ohigh blood pressure before taking it. with copd, i thought i'd miss our family t
, going off the so-called fiscal cliff means a tax hike for just about everybody who does have a job. treasury secretary timothy geithner said the president is absolutely welling to go off the cliff unless republicans agree to raise tax rates. >> there is no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. only 2%. >> reporter: on that no progress. >> where are the specifics? where are the discussions? nothing is going on. >> reporter: there have been no real talks between the white house and republicans for a week, but they say one sign of progress, the president and the speaker of the house spoke via telephone. neither side would give any details about what was said. the stock market closed higher with traders optimistic a deal will be reached. jonathan karl, abc news, washington. >> amazing a phone call can calm the markets. impressive here. what i thought was interesting. we talked how the house is scheduled to go on vacation the 14th of the month. so actually there is a tighter deadline than the 31st. apparently, house majority
move closer and closer to the fiscal cliff everyone will be keeping an eye out on a big deal or could we see a big tax hike. only three weeks before we possibly go over. david: wonder if we trade the guns to avoid a deal for the fiscal cliff. lauren: you're onto something. david: maybe. i don't think they would go for that. "money" with melissa francis is coming next. melissa: i'm melissa francis. here is what is money tonight. a huge break through for u.s. natural gas. a key government study could open the door for exports and create a boom for the economy. the only thing standing in the way though is president obama. we'll drill down with a natural gas company's ceo. >>> plus fighting crazy with crazy. could two plat nurm coins worth a trillion dollars each solve our debt crisis? is it as nuts as it sounds? bear with me here, people. our "money" power panel will break it down. >>> are plastic bags on the way to extinction. they're completely banned in two cities. chicago wants to nix them. guess who is behind it? my favorite chicago alderman. i say stop the madness. but alderman joe
the government point of view, everybody is talking about jobs and the fiscal cliff. everyone talks about taxes and what is going to happen with the fiscal cliff. there has been $1500 gone to increase oil prices. you can get them that tax cut today if you invested in our report. everybody talks about entitlements. high oil prices make the social security trust insolvent five years sooner than they would if he did not have high oil prices. america needs jobs and growth. following the recommendations in our report will lead to both of those. it would be good for american business. >> i will start with senator alexander. tell me about energy policy and where it fits in with the fiscal cliff. what we will spend money on and how we were tightened our belts. >> the major place it fits is the right policy would create an environment which would produce a lot more revenue. that would help to reduce the debt. the federal government doesn't spend much money on energy. energy research is about $6 billion a year. i would like to see it doubled. this report is a blueprint for independence and i think it is
to break the tax and spending stalemate that threatens to take the country over the fiscal cliff in just over three weeks. meanwhile, one by one republicans are bowing to the president's demand that taxes go up for the wealthy. >> will i accept a tax increase as a part of a deal to actually solve our problems? yes. >> we don't have a lot of cards as it relates to the tax issue before year end. i mean, we have one house, that's it. the presidency and the senate in the democrats' hands. >> since we agree with democrats, 98% of the american people and 80% of the bush tax cuts, to me i would get that off the table so they don't worry about it. >> reporter: democrats insist taxes are going up on the rich no matter what. >> if you don't increase tax rates on the highest 2% of income earners, you cannot generate enough revenue to have meaningful deficit reduction. >> reporter: republicans want big spending cuts to programs like medicare and says. >> we don't want to be back here in another year, another ten years answering the same questions. >> reporter: as the talks continue on both sides of
with the president's position on tax hikes. furthermore, if this fiscal cliff happened 23 days from now, the president, if he doesn't do anything, those bush tax cuts expire, no negotiation at all. the bush tax cuts expire and the defense cuts go into place if the president basically doesn't return phone calls. >> speaking of polls, a lot of polls show if that happens, the republicans will be blamed for it, not the president. >> clayton: like 1995 all over again. >> mike: exactly. so representative randy forbes out of virginia says, maybe the president doesn't want an agreement really? listen. >> the president doesn't really want to get an agreement or a compromise, he wants to get his way and that's why he won't come to the table with any serious proposal and simply talk because i think if we do that, we can get a solution that everybody could live with. we're willing to sit down and negotiate and talk about the ideas and proposals, where is the senate and the president. the american people can hear what they're putting on the table and second realizing the senate and president are ju
had to say about the fiscal cliff. >> congress can avoid all of this bypassing a law that pass as tax hike on the first $250,000 on everybody's income. that means 90% of americans and 90% of small businesses wouldn't see their income taxes go up by a single dime. even the wealthiest americans would get tax cuts on the first $250,000 of their income. and families everywhere would enjoy some peace of mind. >> clayton: i think that republicans agree and a number of republicans say this, they're in a poor bargaining position. they he lost the election and polls show most americans agree with the president's position on tax hikes. furthermore, if this fiscal cliff happened 23 days from now, the president, if he doesn't do anything, those bush tax cuts expire, no negotiation at all. the bush tax cuts expire and the defense cuts go into place if the president basically doesn't return phone calls. >> speaking of polls, a lot of polls show if that happens, the republicans will be blamed for it, not the president. >> clayton: like 1995 all over again. >> mike: exactly. so representative randy
and allow president obama to raise taxes to 39.6%, and i think that'll take the edge off the fiscal cliff. david: let's take this discussion out of the beltway and into the real world. the economy, and, jeff, i want to start with you because you're bullish, but if you're so bullish, hy are you downgrading housing right now? >> because our housing team made a really good call on the housing stocks, and they outran their valuations on a short to intermediate-term basis. they downgraded them about two months ago. liz: okay, so where's the money? show it to us. >> i like just about everything except consumer staples. i think industrials look good, i think they are the new consumer staples. i think that consumer staples are the new investment vehicles of utility investors -- liz: and you like american tower, sba communications, you know, i just wonder why specifically that? is it sort of the cycle that you expect? we'll have a coiled spring from people holding back from spending? >> no. eventually, your computer's going to be in your cell phone or your quite, and you need -- your device, and
up to the scal cliff. december consumer sentiment nosedid to a five-year high, because of fiscal cliff fears. a spike in taxes would leave a lot less money lying aroundor the iphone or ipad. shares of apple fell 2%. >>> thanks to a study by the department of energy the u.s. may be closer to approve natural gas exports. data shows it could improve th economy by $47 billion in 2020. we need that. sounds like a win-win. we have the ceo of bright link oil and gas. chris, thanks for joining us. >> thank you. melissa: what do you make of this report? first of all, do you buy it? do you think it's possible? >> i dohink it's psible and i'm glad to see it come out. what it really does now it shows overhe 12 different enarios that the government study investiged each one of those scenarios came back and said america will benefit and have a positive economic gai if we export lng offshore to europe, and or asia and to other countries that need our gas. melissa: we have so much natural gas unlocked as a result of fracking, the problem is, intellectually, emotionally we can never wrap our head
't rule out an agreement to raise taxes as part of a fiscal cliff deal. but he also said there's no progress. this is what winning looks like. joining me now, e.j. dionne and thank you both for your time. senator solis, the jobless rate is at a four-year low. that's quite an achievement. >> yes, reverend re. but we still need to do more. in sectors like retail and health care and tourism and hospitality. we need to do more because people are still suffering. we've got to put jobs back in infrastructure and construction and put our teachers. that's why the president is working so hard so we don't go off the fiscal cliff so we keep the most vulnerable people out of harm's way. to pay $2,200. we've got to talk about fairness here and i'm very excited that the public is listening to the message that the president has made very, very clear. >> 146,000 new private sector jobs last month but one of the things that you talk about is the public sector. the president has proposed about $50 billion in infrastructure jobs which would be the public sector which is where a lot of the most hi
with the fiscal cliff. this is an arbitrary, across-the-board tax increase. the combination of which will mean that if we are unable to resolve the fiscal cliff without raising taxes, we'll already see a lot of new taxes as a result of the health care law on financial transactions, on insurance programs, on every single working american. so that's why we have our speaker, john boehner, trying to present president obama with an alternative that says rather than raising taxes which is already going to happen on january 1 from this massive new tax increase that was in the health care bill, why don't we find a way to understand and have the economy take that in hand first? i know the president stood here at the state of the union address and said we're not going to spend one dime of taxpayer money. i know the president stood here and said every single american can keep your own insurance plan. i know the president has made these promises to the american people and these are things that we're going to have to understand about january 1 next year. and i believe that's why we need to have john boehne
. the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. what the president's plan lacks is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp. it is estimated to be as high as $128 trillion. even if they confiscate all of the income that excesses $1 million, we cannot pay for the entitlement commitments that the federal government has made. we have made promises to ourselves that we simply cannot keep. without some sensible entitlement reform, our credit rating will be downgraded again. we will become a country that none of us recognize. secondly, fiscal plans failed to achieve their government budget deficit or debt reduction goals. dr. hassett has examined fiscal plans in other countries. on average, unsuccessful plans proposed an inc
. >> so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiation, what are the options for congress right now on december -- what is it the sixth today? >> these are kind of an afterthought at this point because often, as i said, all these are extended for your or two at a time. they talk about trying to make the list shorter, but if they have to, december 29th, they need to pass something, all they have to do is pass everything for a year and it won't costs so much. they get to this after figuring out the bigger question. >> host: they can do in one bill? text extenders and list the different -- >> guest: you will go in the big fiscal compromise and you won't your a lot about unless someone is like wait a second, they passed a nascar tax break? that is a deduction and they probably will because tax extenders' were in the financial bailout. they usually get stuck in the big bill. >> host: right now what is the status of the so-called tax extenders? >> guest: the financing--senate finance committee passed a bill in august. the house has
there will be no deal to avert the so-called fiscal cliff without the rich paying a higher tax rate. got it? higher rate. in this interview on bloomberg tv, he made it. let's listen. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms in entitlements that i'm prepared to make, that we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> there you heard it again, top rates have to go up, and rates. and some republicans are saying that the gop will ultimately say uncle. conservative columnist byron york, a very smart guy, wrote, quote, republicans will cave on the question of raising the tax rate for the highest income americans. the only question is whether they do so before or after the government goes over the so-called fiscal cliff. "new york times" columnist david brooks describes it this way. republicans will be raising middle class taxes in order to serve the rich. shafting sam's club to b
that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending the president wants to raise tax rates. even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion-dollar deficits for as far as the eye can see. listen, washington has got a spending problem not a revenue problem. if the president doesn't agree with our proposal i believe that he's got an obligation to families and small businesses to offer a plan of his own, a plan that can pass both chambers of the congress. we are ready and eager to talk to the president about such a plan. >> you did speak with the president earlier this week, can you characterize that call? did he have any kind of counter offer? also, we understand that he is making clear that it's got to be increase in rates for the wealthy or no deal. are you willing to give a little bit maybe not all the way to 39.6? >> the phone call was pleasant, just more of the same. the conversations that the staff had yesterday, jus
not faced a grand jury or been indicted. >>> let the countdown continue. 26 days until the fiscal cliff. the focus has been on taxes but that's only half of what this is all about. the other ways you could be affect, coming up. to test the 2.0-liter turbo engine. [ engine revs ] ♪ [ derek ] 272 horsepower. the lightest in its class. the cadillac ats outmatches the bmw 3 series. i cannot believe i have ended the day not scraping some red paint off on these barriers. ♪ [ male announcer ] the all-new cadillac ats. your soups are so awesomely delicious my husband and i can't stop eating 'em! what's...that... on your head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste this soup. sven's home security gets the most rewards of any small business credit card! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses dese
economy right to the edge of the fiscal cliff. intent of reforming the tax code, the president wants to raise tax rates. even if the president got the tax rate hikes he wanted, understand we would continue to see trillion dollar deficit for a start -- far is that i can see. listed, washington has a problem spending, not the revenue problem. the president does not agree with our proposal. i believe is an obligation to families and small businesses to offer a plan of his own, a plan that can pass both chambers of the congress. we are ready and eager to talk to the president about such a plan. >> you did speak with the president earlier this week. did he have any kind of counter offer? we understand he is making clear it has to be increasing rates for the wealthy or no deal. are you willing to give up a little bit? >> the phone call was pleasant, but more of the same. it is time for the president, if he is serious, to come back to us with a counter offer. >> and a plan is down roughly to the same last year. [inaudible] why take such a risk when the jobs number is improving? >> the rest
the fiscal cliff. republicans are saying hey, let's continue the bush tax cuts, let's make this fair for everyone but let's stop spending. we are spending more than we have. democrats are saying now they are saying it doesn't matter, we are not focused on the deficit anymore. we want to keep spending so we're going to raise taxes. >> don't touch spending. if you touch spending do it five or 10 years down the road. let another congress do it. in the meantime raise revenues through tax increases. >> i hear my father's voice. we all grew up with our dads that they saved every penny they had. they came from that generation. my dad would never say ainsley just spend, spend, spend on your credit cards. don't worry about the debt? don't save a dime. if you were running a business your business would have been out of business. >> that's what scary. we love america so much and people are concerned where our country is going. >> email your questions at friends at foxandfriends.com. >> headlines. might be the biggest arrest related to terror attack in benghazi. the "wall street journal" reports
fiscal cliff rather than cave to republican demands for a continued tax break for the wealthiest americans. he made the statement in an interview with cnbc. >> i want to understand the administration's position on raising taxes for the wealthy, those making more than $250,000. if republicans and not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. there is no room for an agreement that the not involve the rates going up for the top 2%. >> speaking to a roundtable of corporate executives in washington, president obama said republicans' aid to examine the reality that tax rates will rise for the wealthiest americans. >> we have seen some movement in the last several days with some republicans. there has been a recognition that, maybe, they can accept some rate increases as long as is combined with a serious impediment reform and additional spending cuts. and if we can get the leadership on the republican side to take that kramer, to acknowledge that reality, then the numbers are actually not that far apart. another way of putting this is, we
administration is willing to go over the fiscal cliff. nbc's tracie potts joins us live from washington with an update. good morning to you. >> reporter: let's start with geithner. he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint economic committee he
the numbers and found if the nation goes over the fiscal cliff, high income californians would beat out new yorkers and hawaiians for the potential highest tax rate at nearly 52%. >>> forbes is out with the 2012 most powerful people list. president obama held on to the top spot for a second year. the pope climbed two notches from last year. he is in fifth place. facebook's ceo mark zuckerburg went to number 25. former president clinton held on to number 50. and tonight be sure to watch brian williams sit down with tim cook. by the way, he's number 35 on the forbes list. >> finally, no, this is no joke. pizza hut in canada sent more than 100 bottles of pizza cented perfume to facebook fans. the fragrance boasts freshly baked hand tossed dough. >>> some optimistic news in the fight against breast cancer. women who took the common estrogen blocking drug tamoxofin cut the chance of getting breast cancer in half. >>> coming up, corey booker lives on food stamps. the nfl steps in with a million dollars for jovan belcher's orphan daughter and high resolution images of your planet earth from space.
hearing on what can be done for the fiscal cliff. treasury secretary timothy geithner says the administration is willing to go over the cliff, let taxes go up, let these taxes happen if republicans press the idea of no tax increases for the wealthy. the latest we've learned, president obama and house speaker john boehner have spoken by phone. no word on what they discussed or whether there are any meetings planned, but just the fact that they're talking seems to be progress these days here on capitol hill. >> we'll take that. tracie potts for us in washington. tracie, thanks. >>> egypt state television is reporting at least five people were killed in overnight flashes between supporters and opponents of egyptian president mohammed morsi. the street battles were the most violent since egypt's latest crisis erupted two weeks ago where morsi assumed near absolute power. the opposition is vowing more protests later today. >>> this morning, two australian radio hosts are apologizing for a prank call that's getting worldwide attention. it was made to the hospital where kate is be
cliff is a series of spending cuts and expiring tax credits set to take effect in 27 days. today the president made the case to a group of top business leaders. his plan calls for a higher tax rate on earned income exceeding $250,000 and republicans say that would be a job killer. though are pushing for raise revenue by closing tax loopholes and deductions, something that the president says would not raise enough cash. wendell is live with more on the white house. how much much revenue would the president's plan raise by raising the tax rates for high earners? >> about $1 trillion the next 10 years from the rate increase. that is just part of a package that also includes limits on deductions and tax credits and aims to pull in a total of $1.6 trillion. republicans want to keep tax rates the same b end deductions and loopholes but obama says that will not get the job done. >> it is not possible to raise the amount of revenue required for a balance the package if all you rely on is closing deductions and loopholes. let me amend that. it is possible to do theoretically but it is not
principles. host: do they believe a recession could happen if we fall off the so called "fiscal cliff?" guest: they do. what we saw last year is business leaders were concerned that washington was not going to come together with a deal. and that it could end badly, but it was a more muted concern. they just trusted washington would get it done. given how quickly things happened last time, they are taking a much more active role. business leaders have come to washington to require a minimum height standard for the ride of the fiscal cliff. they want to make sure that members of either party who are speaking out are as close as possible to simpson-bowles. talk about real cuts, about real revenue. it's much more and ownership in the process this time. host: where does your group come down on regulations? guest: our job is to go out and get business leaders around the country more involved. the business leaders speak for themselves. business leaders are generally extremely influential in their home markets. there are the kind of people if that can give a member of congress moderate republican or
on that "fiscal cliff." >> there will be no deal without a compromise on taxes. >> state lawmakers fixing their cars on your dime. >> as a taxpayer, you know, it's my money going to it so it's certainly frustrating. >> oakland police fend off the feds. >> most importantly, what they avoid is a complete federal takeover something that would be an embarrassment for the city. >> i have documentation that proves the intense corruption at all levels of the belizian government. >> busted and heading back to belize. silicon valley tycoon john mcafee is now under arrest. >> the dungeness crab season just got started and already, the boats are idle. >> from across the bay -- >> it's just imagine cal for me. >> -- to around the world, the stories that matter on "eyewitness news this morning." >> your realtime captioner: linda marie macdonald captions by: caption colorado comments@captioncolorado.com >>> good morning, it's thursday, december 6. i'm michelle griego. >> hi, everyone. i'm frank mallicoat. it is 6:30 on this thursday. >>> a broken hydrant left a wet mess in downtown san francisco. road
dividends trying to beat possible tax hikes and the fiscal cliff uncertainty could lead to an increase in mergers and acquisitions. they look to complete transactions by year end and i made a fool of myself the last hour trying to go all the way through. not doing it anymore. >> we do that all the time here. that's what we have three hours for. >> it was dumb. >> the name fiscal cliff where did that actually come from? >> i don't know. >> bernanke maybe. >> maybe. >> really? >> maybe bernanke. >> that thing really stuck. >> that's a good question. that's good trivia. i'll goog it. >> we've said it's not really. it doesn't happen really. it's more of a ski slope it's not a black diamond slope. it's more advanthan advanced. >> a double blue. >> but not without a lot of moguls. >> dan gilbert is the own of the cleveland cavaliers and the founder of quicken loans and you're the perfect person to have here because you have your finger on so many different things happening in detroit and around the country. let's start with the housing industry this morning because people have been trying to
of the fiscal cliff people in california will pay a boat load in extra taxes, the of calla earners will earn 52% marginal income-tax rate. zynga looking to get into the real game of gambling. and for a gaming license, that would mean gamblers in nevada could put down real money in names like zynga poker. the first day washington state residents conseco cox legally in public and in seattle they are doing that. huge crowds at midnight last night, like the new year's eve celebration according to several witnesses and a few cameras. the only problem is it is still against federal law and that is a problem for growers and sellers. detail people. that is your west coast minute. dennis: no word what this is doing to the productivity rate in washington state. the f h a is in talks eat, housing secretary shaun donovan wraps up his appearance beforee the senate banking committee. cheryl: let's go to peter barnes who is standing by in washington monitoring that hearing out of d.c.. peter: republicans charge that a bailout of the faa is coming and the housing secretary cannot rule it out. shaun donovan say
is a tough one. >>> new signs of progress in efforts to avoid the fiscal cliff after a closed door meeting at the white house. >> more republicans are coming forward to say that the richest americans should pay more in taxes. here is abc's david kerley. >> reporter: for the first time in more than three weeks, a face-to-face meeting at the white house, but no cameras as the president sat down with speaker john boehner. no details are being offered which some will see as good news. the co-creator of a debt reducing plan sees progress. >> any time you have two guys in there tangoing, you have a chance to get it done. >> reporter: before the talks some republicans were admitting the president will get a lot of what he wants. >> let's face it he does have the upper hand on taxes. you have to pass something to keep that from happening. >> reporter: why compromising words? the white house moderated some demands. the president says tax rates for the wealthy have to rise now word that the actual rate could be negotiable. maybe not all the way back to 39.6%. >> will i accept a tax increase as a par
of the talks we've heard about the fiscal cliff, we've heard about balance and new tax revenue. but we don't hear balanced a budget. i think -- balanced budget. i think this speaks to how bad the situation is in the federal government when both parties don'tage knowledge that. as for -- don't acknowledge that. as for what's going on, just downstairs from me, speaker boehner started throwing cold water on any report that the talks were moving ahead. yes, there have been an exchange of offers. he said the last couple of days, but he said his phone call last night was a frank discussion about just how far apart they are. with 19 days left until the deadline or nine days until the end of the world, if you are look at the mine cardinal, nobody knows which way -- calendar, nobody knows which way we are headed. >> isn't this part of the we're so far apart publicly. but suddenly, they will announce miraculously they've reached a deal? >> reporter: i think for those of us here trying to cover us, it's the hardest thing to try to figure out since you are not et going the inside part of this. how muc
the so-called fiscal cliff. >> you have to nail this down. uncertainty is killing us. >> reporter: top economists talked about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars, means a couple months rent for this family. >> reporter: the white house has made clear the country could go over the cliff, if republicans refused to raise taxes on the top 2% of american earners. >> for them to be burdened, unnecessarily, because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: republican leaders say they will close loopholes loopholes and eliminate tax breaks to raise money. but insist that bush-era tax cuts must be extended for all americans. >> reporter: the standoff and the country's skyrocketing debt, concerns ryan shenecki. so much so that he's the guy in the suit, dancing gangnam style with former senator allen simpson. >> i'm keeping up on this baby. >> reporter: his group, the cankicksba
i don't get about the fiscal cliff proposal. it seems as if the trophy that the republicans want in exchange for asking people whose income is above $250,000, even though they get a tax break on that first $250,000, ask them to pay a little more, the trophy in return is to ask senior citizens whose median income is $22,000 to pay more? why is this a quid pro quo? why is this fair? why is that the trophy? why is that the exchange that makes sense? the american people say no. say no. medicare, social security, medicaid, these are programs that keep people healthy. raising the age of medicare, really? that's why we have medicare in the first place. insurance companies don't want to insure people and the center for american progress says that if we did that in a single year almost 435 seniors would be at risk of becoming uninsured. is this the goal? i am realy confused about these proposals that somehow equate, really the wealthiest top 2% in our country with extracting something from the poorest adults in our country. seniors and persons with disabilities. mr. garamendi: your points
to slow walk the economy to the edge of the fiscal cliff. >> the extremely vague republican proposal did not include an increase in tax rates a position he reiterated on friday making clear there's no movement on the white house's red line on treasury secretary tim geithner as he was asked about it wednesday. >> the administration's position when it comes to raising taxes on the wealthy. making more than $250,000. if republicans do not agree, is the administration prepared to go over the fiscal cliff? >> absolutely. >> there's no agreement that doesn't involve the rates going up on the top wealthy 2%. >> republicans clinging to what little leverage they have to maximize cuts zeroed in on the debt ceiling hoping for a repeat of the 2011 showdown where house republicans were able to extract $2 trillion in cuts. $1 trillion cut from domestic programs in ten years and $1.2 trillion in cuts through a sequester. wednesday, president obama seemed to set another red line, a business round table who warned against the repeat of last year's debacle. >> i want to send a clear message. we are not go
any more agreements with the u.s. until those prisoners are transferred. >>> well, the fiscal cliff is looming unless congress takes action to avoid it. coming up at 7:15, the number of california defense department jobs that could be lost if automatic trick -- automatic tax cuts are formed. >>> bill clinton says he's not sure if hillary clinton will run for president. she said she does not want to continue a secretary of state for president obama's second term. she said she wants to focus on issues to -- that are important to women. >>> let's see what tara is seeing on 880. >> we have a lot of traffic on pinole and then past the golden gate gate. we're in berkeley/emeryville. we have a traffic issue in here. 280, northbound towards santa clara, looking pretty bad. give yourself extra time. let's check in with steve. >>> tara, thank you. there's definitely some breaks in the clouds. jive seen gusts to 25 miles per hour. i dent think this -- i've seen gusts to 25 miles per hour. i don't think this -- this breeze can helpster things up a little bit. still some low clouds around. i'm s
, president obama set to speak at a detroit auto plant where he will push his plan to avoid the fiscal cliff through his recipe of higher taxes on the wealthy. we are also hearing reports that mr. obama may weigh in on the explosive right-to-work fight that is raging through the state of michigan right now. we're going to get to that in a minute. while back in washington new questions arising today about plans for the start of the president's second term. wait until you hear this. brand new hour here of "america live." welcome, everybody, i'm megyn kelly. the white house press corps has sent a letter to the obama administration with questions about whether president obama's swearing-in could be kept from the press. katie pavlich is the news editor at town hall.com and with me now. katie, welcome back to the program. >> great to be here. megyn: so this is a surprising controversy. the constitution doesn't say that much about the inauguration, but it does tell us what day we're supposed to have it on, and this year that is triggering some controversy. explain. >> right. well, this year the ina
week, a new attempt to keep the country from plunging over the fiscal cliff. >> with time running out there are signs of possible progress in the attempt to head off a massive tax increase. it is monday, december 10th. >>> from abc news, this is "world news now." >> good monday morning. i'm sunny hostin in for paula faris. >> i'm john muller, rob nelson has the morning off. we're going to find out what the president and house speaker boehner are saying after a face to face meeting over that fiscal cliff. also this half-hour -- hopes and prayers for nelson mandela, the human rights hero in a south africa hospital this morning. >> also coming up, new hope in the fight against alzheimer's disease, experimental surgery to implant a kind of pacemaker for the brain is showing early success. >> an interesting one. >> yes. >>> later, daytime smack down, wendy williams lets loose with some harsh word about beyonce. what the talk show host is saying about the singer coming up in "the skinny." >> that's never going to go well. talking badly about beyonce. a bad move. >> going after beyonce is a
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